Vicinity restructures executive committee

Property group Vicinity Centres have announced a restructuring of its executive committee, in an effort to better utilise its assets and accelerate its growth strategy, effective immediately.

The restructure will see several executive roles change, two new roles created, and has led to one executive stepping down.

Vicinity chief executive Grant Kelley said the leadership changes were the next step in the business’ transformation efforts.

“The executive structure announced today is designed to leverage our strengths and position Vicinity for the future by strategically consolidating the finance and investments function, strengthening intensive asset management, elevating strategy, innovation and digital and further embedding a high-performance culture,” Kelley said in a statement to investors.

“More than three yeast post-merger, the time is now right to realign our business to focus on the successful and swift execution of our new strategy.”

As part of the restructure, Simone Carroll will shift from executive general manager of digital, marketing, people and culture to the position of group executive, people and transformation, while executive general manager of business development David Marcun will now be director of financial operations.

Two new roles, chief operating officer and chief information officer, have been created, with an international talent search underway.

Chief financial officer Richard Jamieson will step down to be replaced by chief investment officer Michael O’Brien, who will take on the CFO role under the new structure.

Kelley noted that Jamieson had made a significant contribution to the company over the past four years, and that the team wishes him the best for future endeavours.

“[O’Brien] has played a major role in the transformation of Vicinity since the merger… [and] has significant finance and investment experience, as well as a deep understanding of real estate management and development, which is critical for the next stage of Vicinity’s growth,” Kelley said.

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